Archbald Bank (Archbald, PA)

Episode Information

Episode UID
60106171586
Episode Type
Suspension → Closure
Bank Type
state
Bank ID
6010617 routing
Routing Number
60-1061
Start Date
February 16, 1932
Location
Archbald, Pennsylvania (41.495, -75.537)

Metadata

Model
gpt-5-mini (chosen from majority vote of a three-model LLM ensemble)
Short Digest
2f7dc43f16e0d8de

Response Measures

None

Description

Articles show the bank was closed and in liquidation with state disbursements to depositors; precise cause of closure not stated.

Events (3)
1. February 16, 1932 Suspension
Cause
Government Action
Cause Details
Bank was closed and in liquidation, tying up municipal welfare funds; closure appears to be under state banking action or receiver pending liquidation.
Newspaper Excerpt
closing the Archbald state the only the tied $1,919 comprising welfare relief fund borough and prevented the feeding and care approximately 300 sons.
Source
newspapers
2. August 31, 1932 Other
Newspaper Excerpt
ARCHBALD BANK DEPOSITORS TO RECEIVE PAYMENT AUG. 31 ... The Archbald Bank ... amount $84,228, to 2800 depositors.
Source
newspapers
3. October 2, 1934 Other
Newspaper Excerpt
the Archbald bank. of Archbald. Lackawanna county, will make a 5 per cent payment of $41...
Source
newspapers

Newspaper Articles (4)
1. February 16, 1932 The Gazette and Daily York, PA

Article Text

Bank Suspension Ties Up Archbald Relief Monies Feb. 25, Four residents of Archbald, Lackn. wanna county, today asked state officials to assist them money to feed unemployed persons their community. They Governor Pinchot and officials that closing the Archbald state the only the tied $1,919 comprising welfare relief fund borough and prevented the feeding and care approximately 300 sons. They whether there was any release the welfare fund from bank that Unemployment conditions acute community, they said Hudson Coal mine Archbald last months and the only source employment Officials the banking ment said that the only legal which the welfare fund could released from the closed bank would be for individual individuals an assignment part of the fund pending liquidation the bank. The delegation said had been paying from week port, the amount varying proportion number each family and their needs. Additional credit obtained other families to permit them obtain they has discontinued cause the closing of the bank forced the merchants to conduct state official said he believed delegation could find some would take assignment fund and release that the relief work resumed.

2. August 26, 1932 Wilkes-Barre Times Leader Wilkes-Barre, PA

Article Text

LOCAL BANK DEPOSITORS WILL BE PAID $391,677 Philadelphia, Aug. liam D. Gordon, State Secretary of Banking today announced payments be made of closed banks, including nine in the Philadelphia area: The payments will and Trust Barre, secpayment, August 31, amounting 10,800 depositors. This makes total cent. The Archbald Bank, at Archbald, per cent, 31, amounting

3. August 26, 1932 The Times-Tribune Scranton, PA

Article Text

ARCHBALD BANK DEPOSITORS TO RECEIVE PAYMENT AUG. 31 Philadelphia, Aug. 26 William D. Gordon, state of banktoday announced payments to made to depositors of fifteen closed including nine in the Philadelphia The payments will inArchbald bank. at Archbald. amount$84,228, to 2800 depositors. U. S. TREASURY BALANCE for August 24 were $65,expenditures. balance $366,063,298.61 Customs duties for 24 days of August

4. October 2, 1934 Bradford Evening Star and The Bradford Daily Record Bradford, PA

Article Text

SIX CLOSED BANKS TO PAY DIVIDENDS Philadelphia. Oct. -Dividend payments totaling $496,099.97 will be made to 33,053 depositors in six defunct Pennsylvania banks within the next two weeks. according to an announcement made here today by Dr William D. Gordon, state secretary of banking The Allentown Trust company of Allentown will disburse a 13 1-2 per cent dividend. amounting to $141.792.20 to its 11,555 depositors on October 14. The Miners and Mechanics Saving bank. Carbondale, Lackawanna county, will distribute a 5 per. cent dividend. amounting to $134,214.22 On October 11. the Archbald bank. of Archbald. Lackawanna county, will make a 5 per cent payment of $41.A twelve per cent dividend amounting to $129,497.50 will be paid to the 7,543 depositors of the Darby Bank and Trust company. of Darby on October 10 A nine per cent dividend. amounting to $21,258.74. will be distributed to the 971 depositors of the Citizens Bank of Barnesboro, Cahbria county, on October 8.